Answers to your
questions so far.

We’ve already received and answered some questions that are top of mind for everyone involved. The questions and answers are in the section below.

Will I require new cheques and MemberCards?

Initially, our members will not require new cheques or MemberCards. Part of the integration plan is the amalgamation of three banking platforms, which is scheduled for late 2025. When we get to this phase and as this project unfolds, we may discover the occasional situation where there is a requirement for a member to have new cheques and new MemberCards. If this occurs, rest assured our team will contact any affected members directly to minimize the impact of this change.

Can I still use cheques and cards with my legacy credit union name?

Yes, please continue to use your existing cheques and cards. The credit union name displayed on cheques or cards will not impact either of these payment options. As you replace cheques and your cards renews, they will be issued with the new credit union name.

Will my digital banking app or online channel change?

Mobile Apps and online banking will not require any changes as of January 1, 2025. However, in the short term you will need to sign on through your legacy credit union link to access your digital
banking platform.

Towards the end of 2025 our banking systems will be merged, and at that point all members will access the digital banking platform through one link. We will be sure to keep you posted of any changes through emails, websites, in-branch messaging, and social media.

Will there be changes to account products, interest rates, and service charges?

As we work through the integration of the three credit unions, we will be assessing all areas of our business. Over time, we will be able to leverage our size and combined strength to provide new solutions and positive improvements to the products, services, pricing, and technology we offer today.

What are the benefits of the merger to me as a member?

The goal of this merger specifically to be of better service to our members and to ensure that is always the case. The many benefits include:

  • Sustainable, reliable access to financial services in rural Saskatchewan communities.
  • Additional capacity to price products and services competitively.
  • New products and ideas made possible by our greater capacity.
  • More training and growth opportunities for our employees.
  • Increased capacity to support our communities.
  • Increased volumes resulting in improved efficiencies of scale.

The wellbeing of our members here at home is our priority.

Will the products and services I have now change?

The way you bank with any of the three credit unions today should remain very familiar. There will be positive choices over time: new account ideas, new products and services, improved access thanks to improving technology. No one wants change for the sake of change. But the changes we can make together can be well-informed, well-communicated and offered as a choice. We think that’s all good news.

Will I be able to get service at all the 30 service locations on January 1, 2025?

On January 1st, 2025 you will continue to access services the same way you do today, through your legacy credit union service locations. In time, we will provide members the ability to access service
in all our locations but for the time being, this will be limited to the service locations where you access service now.

Will merging the operations disrupt my day-to-day banking?

Nothing will change on January 1, 2025 when our three credit unions merge. Throughout our planning we have earmarked the full year of 2025 to intergrate our three organizations.  This means that for the interim in many areas we will continue to operate with individual credit union banking systems. 

One of our primary goals is to ensure a smooth transition and uninterrupted banking services for our members. You can expect the same personalized service you receive at our branches today, by the same staff who know you and your community. As we move through 2025, we will continue to keep you informed of any changes that may directly impact you. 

Merging all three credit unions into the new credit union will take some time. As the integration process takes place throughout 2025, there may be small disruptions to banking systems and the like as operation integration happens. We have spread the timeline out for that work, and we’ll do everything within our power to reduce or eliminate disruption. 

How will this partnership impact banking for businesses and farms?

Prosperity Credit Union will have the scale ($2 billion in assets) and the footprint (rural Saskatchewan, south to north) to enhance farm and business banking services. We’ll be able to help more businesses grow. We’ll be able to tailor products specifically for rural and local requirements. We will be able to make decisions close to home – where you work. We see the potential of every business and farm in Saskatchewan and we plan to ensure everyone has the opportunity to prosper.

Will there be an impact on member service levels because of the Merger?

The combined strengths of each credit union will allow us to enhance member experience and attract new members as we continue to grow in the future.  In most cases you will continue to deal with the trusted advisors you work with today. 

Will deposits still be guaranteed?

Yes.  The merger will not affect the deposit guarantee.  Deposits are 100% guaranteed today through Credit Union Deposit Guarantee Corporation and will continue to be so in the new credit union. 

Why not merge with one of the large urban CUs to better support the natural migration of youth members from rural SK to the city?

Our focus on rural Saskatchewan is intentional.  As the competition continues to leave our communities we continue to invest in them through local advice, being a good employer, and investing our profits back into our communities.  We believe in both an in-branch personal experience, as well we know we need to continue to invest in technology to allow our members the convenience to transact whenever and wherever they are.  Over the years we have seen members come and go from our communities.  People are no longer choosing their financial institution by geographical location or proximity.  We find that members of today are more committed to their roots and are quite happy to contact their local advisor in their preferred method.  They want to do business with the credit union profession who they have a built a relationship with and who understands their borrowing and investing needs.  The remainder of their transactions are conducted through digital channels.  As a large credit union, we will continue to invest in the new technologies to meet the future needs of all members. 

Will I still be able to phone my branch without having to go through an automated router? Will a real person still be answering the phones?

We pride ourselves on being available to our members, and that’s not something we are considering changing through the course of this merger.

Will there be any branches in the city of Saskatoon?

The new credit union will have 30 branches across Saskatchewan.  Today, all three credit unions have members living in Saskatoon, Regina, and many other locations.  We know our members and they know us; their trusted advisor is only a click or phone call away.   We make our decisions locally which ensures we can serve members effectively and efficiently.  This includes those who remain in our local communities and those who have moved from the area.  In addition, we continue to invest in digital banking channels and apps to provide convenient account access to our members wherever they call home. 

What is the name of the new credit union?

Prosperity Credit Union will be the name of the new credit union. Along with our new name is a logo that is inspired by nature and the land, and the success of our members, employees and communities.

Prosperity Credit Union is new, but we weren’t born yesterday. We are created on the legacy of three credit unions that have served Saskatchewan for generations.

We don’t believe you can help people if you don’t know them. By sharing your community, we share an understanding of your challenges and your dreams.

We will stand with you as sponsors, volunteers, and fans.

We are Prosperity Credit Union and we believe in Saskatchewan.

Why do we need to explore a partnership at this time?

An exciting aspect of this partnership is that none of the three credit unions need to merge, they are choosing to. We believe it simply makes sense. Farm, business, and consumer needs are changing. The financial services landscape is changing. We want to do better than just keep up.

The partnership will ensure we are sustainable long term. It will help us leverage opportunities and mitigate risks in the marketplace. And most important, it will give us the scale to actually grow financial services that are tailored to lifestyles and businesses here in rural Saskatchewan. When we say we’re driving rural prosperity, we mean it and are committed to it.

What do you hope a partnership will help the credit unions achieve?

We will be able to continue leading and driving prosperity in rural Saskatchewan – at a time when many major financial institutions are pulling back from rural areas. We will have more to invest in technologies that improve operations, access and member services. It will ensure we remain price competitive. We will have more to invest in our community partnerships. We will look to expand where it makes sense, with focus on the members and communities we serve.

Will my branch close or the days it is open be reduced as a result of the merger?

One of the goals of this merger is to maintain in person service.  Many financial institutions find efficiencies through leaving our small communities.  We are choosing to find efficiencies through partnerships that will make our commitment to providing financial services in rural SK sustainable. If our communities continue to support us and our branches remain profitable, our commitment is to be there to serve our communities.  

Will any employees lose their jobs as a result of the merger?

Although roles may evolve, there will be a home for all current staff in the new credit union. Credit unions, like many other organizations in Saskatchewan are facing challenges to ensure we have the staff we need to serve our members optimally. This partnership will help us attract employees and retain the amazing ones who already work with us. In addition there will be new opportunities as more specialized and diverse roles are needed in the larger organization.

Who can I talk to about this partnership?

Any of our staff or Directors would be happy to discuss this exciting partnership. If you would like to reach out and speak to someone directly please visit Let’s Connect.

When will the merger take effect?

January 1, 2025. All three credit unions will maintain their current operations for the remainder of 2024. Throughout 2025 and beyond, work will begin on building an integration approach that will cause the least disruption possible to everyday member banking services.

Where can I get more information about each of the partners?

Please visit each of the credit unions’ websites or reach out to our staff and Directors who are happy to chat about this exciting partnership:

Bigger isn’t always better.

We are focused on supporting growth in Saskatchewan for the benefit of all our members, not for the profit of stakeholders that don’t live here.  Our priority is our local communities and our people. By choosing to partner with like-minded credit unions, we are able to uphold our commitment to communities and building relationships. You will continue to be helped and guided by the same staff who you have already built trust with.

Where will head office be? Will management/leadership be centralized?

Supporting employment in all our communities is a key priority for Prosperity Credit Union. All three
credit unions currently operate with a decentralized leadership and administrative model with teams spread out between service locations and through remote work arrangements. In today’s world, technical advancements have made remote workplace models very attractive and efficient,
and our intent is to continue to operate decentralized going forward.

Who will the new CEO be?

The new CEO will be Blair Wingert, the CEO from Prairie Centre Credit Union. His leadership peers, Colleen Harmatiuk from Diamond North Credit Union, and Glen Goddard from Cypress Credit Union will support Blair in leadership roles for as long as they are needed.

How will the member-elected Board of Prosperity Credit Union be set up?

Each of the three partners have four Board seats at the new credit union. That is why we call it an equal partnership. We’re very proud of how all three Boards have put this plan together – it makes us unique and truly reflects our intent to sustain and grow tailored financial services in rural Saskatchewan.

What impact will the partnership have on the community I live in?

First and foremost, the partnership between our three credit unions will ensure we can sustain and even grow financial services tailored to rural Saskatchewan.

Will there still be profit sharing and community sponsorships?

All three credit unions are committed to giving back to their communities through financial sponsorships and volunteerism. This is a vital component of the cooperative principles which we will remain true to as we move forward. Profit sharing programs will be evaluated and may be redesigned to align with what is important to the member, today.

As new questions come in, we’ll add those to the FAQs.

Skip to content